600339，又拿下超百亿元中东大单

Core Viewpoint - China National Petroleum Engineering's subsidiary signed an EPC contract worth approximately 25.24 billion USD (around 180.32 billion RMB) for a seawater pipeline project in Iraq, marking a significant contract win in the Middle East after a previous contract of 16.01 billion USD (about 115.38 billion RMB) [2][5][6]. Group 1: Contract Details - The EPC contract involves the construction of seawater treatment facilities, main pipelines, and associated ground facilities, with a total duration of 54 months, including 42 months for design, procurement, construction, and trial operation, and 12 months for operation maintenance and training [6]. - The project is awarded by the Basra Oil Company, which operates under Iraqi law and is involved in various oil and gas activities in southern Iraq [6]. Group 2: Company Performance and Market Impact - The recent contracts are expected to help the company consolidate and expand its market presence in Iraq and the broader Middle East region, positively impacting revenue and profit over the next 4 to 5 years [7]. - In 2024, the company reported a revenue increase of 6.94% to 859.17 billion RMB, while net profit attributable to shareholders decreased by 14.80% to 6.35 billion RMB, primarily due to intensified market competition and increased costs from overseas projects [8].